The Bend City Council on Wednesday approved $500,000 in grants for a middle-income housing pilot program to help fund a number of projects.
Middle-income in Bend is considered someone earning between $53,000 and $79,000 per year for a household of one.
The program awarded these funds to the Habitat/Hiatus Partnership on Wilson, Hayden Homes Woodside Court and the nonprofit NeighborImpact.
“The program was established as a pilot,” said City of Bend Affordable Housing Coordinator Kerry Bell. “And so as a pilot program specifically to meet the community need and to explore partnership opportunities and to test how we might use such funds if they if more revenue was provided in the future.
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The city says it continues to explore options to support middle income housing and to bridge the gap between affordable housing and what the area median income can afford.
Here is a breakdown of where the money is going, courtesy of the City of Bend. You can also see documentation from the city about the projects.
Habitat/Hiatus Partnership on Wilson: $75,000
Project Description: This is a pilot partnership for replicable, accessible to persons with disabilities, middle-income homeownership with one high-performance Hiatus Home and a qualified family from Habitat’s Homeownership Program. This single unit will be constructed on the corner of Wilson and 15th, a former homesite prior to demolition and construction of the Wilson/15th St roundabout. A deed restriction for sale price at 80% – 120% AMI for 30 years will be recorded on the lot. Funding will be used for the architectural plans which includes the accessibility consultation and design work as well as cover system development charges and provide downpayment assistance for the future homebuyer. The plans will also then be established in Habitat’s design options for future potential sites and homeowners with disabilities or their visitors with disabilities. This development leverages $342,200.
Hayden Homes Woodside Court: $225,000
Project Description: Funding will connect sewer to deliver much needed infrastructure at the proposed Woodside Court community of 50 homes and assist 41 existing homes in the surrounding community to switch from septic to sewer. With the savings that this funding provides on this needed infrastructure, 20 lots in the subdivision will be deed restricted at 80% AMI for initial home purchase. Hayden Homes will provide these shovel-ready home sites to other developers/builders who wish to participate in the production of affordable housing and Hayden Homes will provide the assistance and support in navigating the deed restriction and income qualification process for the potential builder. This development leverages $1,975,000.
NeighborImpact Down Payment Assistance (DPA): $200,000
Project Description: This DPA loan program ensures that funds go directly to the middle-income households for their first-time home purchase. Upon funding disbursement, borrowers will receive immediate funding for an immediate home purchase. The program will fund initially five DPA loans up to $40,000.00 for homebuyers with incomes between 80% and 120% AMI purchasing homes located in Bend. As loans are repaid, there is potential for serving additional future first-time middle-income homebuyers beyond this initial five. This development leverages $20,500.
Presentation (2)
6_Middle-Income_Housing_Pilot_Program_award_Issue_Summary (1)
